Cullinan Associates Inc. Has $884,000 Position in Duke Energy Co. (NYSE:DUK)

Cullinan Associates Inc. lessened its stake in Duke Energy Co. (NYSE:DUK) by 45.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,357 shares of the utilities provider’s stock after selling 6,082 shares during the period. Cullinan Associates Inc.’s holdings in Duke Energy were worth $884,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of DUK. International Assets Investment Management LLC grew its position in shares of Duke Energy by 13,829.1% during the 3rd quarter. International Assets Investment Management LLC now owns 1,125,607 shares of the utilities provider’s stock valued at $129,782,000 after acquiring an additional 1,117,526 shares during the period. Mackenzie Financial Corp increased its stake in shares of Duke Energy by 65.7% in the second quarter. Mackenzie Financial Corp now owns 2,052,969 shares of the utilities provider’s stock worth $205,769,000 after purchasing an additional 813,744 shares in the last quarter. Wulff Hansen & CO. lifted its stake in shares of Duke Energy by 9,923.0% during the 2nd quarter. Wulff Hansen & CO. now owns 769,265 shares of the utilities provider’s stock valued at $77,103,000 after buying an additional 761,590 shares in the last quarter. BROOKFIELD Corp ON bought a new position in Duke Energy in the 1st quarter worth approximately $36,278,000. Finally, Capital Research Global Investors grew its stake in Duke Energy by 3.2% in the 1st quarter. Capital Research Global Investors now owns 11,493,340 shares of the utilities provider’s stock valued at $1,111,521,000 after buying an additional 352,320 shares in the last quarter. Institutional investors own 65.31% of the company’s stock.

Duke Energy Price Performance

NYSE DUK traded down $0.08 during trading hours on Friday, reaching $118.94. The company’s stock had a trading volume of 101,010 shares, compared to its average volume of 3,031,020. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $91.79 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 3.06 and a beta of 0.46. Duke Energy Co. has a 1 year low of $86.61 and a 1 year high of $121.25. The firm’s 50-day moving average price is $115.40 and its 200-day moving average price is $107.25.

Duke Energy (NYSE:DUK) last announced its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Duke Energy had a return on equity of 9.71% and a net margin of 14.29%. The firm had revenue of $7.17 billion during the quarter, compared to analyst estimates of $6.84 billion. During the same quarter in the previous year, the business earned $0.91 earnings per share. Duke Energy’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts predict that Duke Energy Co. will post 5.97 EPS for the current fiscal year.

Duke Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $1.045 dividend. This represents a $4.18 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, November 15th. Duke Energy’s dividend payout ratio is currently 105.03%.

Insider Activity at Duke Energy

In related news, EVP Louis E. Renjel sold 540 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $113.64, for a total transaction of $61,365.60. Following the completion of the sale, the executive vice president now owns 19,884 shares in the company, valued at $2,259,617.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Analyst Ratings Changes

DUK has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of Duke Energy from $116.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets raised their price target on Duke Energy from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Jefferies Financial Group assumed coverage on Duke Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $138.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Duke Energy from $111.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Scotiabank upped their price target on shares of Duke Energy from $104.00 to $113.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $121.85.

Duke Energy Company Profile

Duke Energy Corporation, together with its subsidiaries, operates as an energy company in the United States. It operates through two segments: Electric Utilities and Infrastructure (EU&I), and Gas Utilities and Infrastructure (GU&I). The EU&I segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest.